Comments of the Week: Sept. 17 - 21

September 21, 2012 10:59 AM

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On FDIC board member Thomas Hoenig's call to scrap Basel III:

"Federal regulators need to exempt community banks from these undue regulatory burdens to ensure that they can continue to serve their customers and promote the economic recovery."

(Image: Bloomberg News)

On FDIC board member Thomas Hoenig's call to scrap Basel III:

"The 20-year experiment with Basel I, II and III has been an unmitigated disaster. We all know it's true, and it is refreshing to see such candor coming from the FDIC." - William M. Isaac, former chairman of the Federal Deposit Insurance Corp. (pictured)

On the FDIC's attempt to bridge the divide between bankers and examiners:

"This is all they have - better communication? Come on guys, you can do better than that."

Pictured: Martin Gruenberg, acting chairman of the Federal Deposit Insurance Corp.

(Image: Bloomberg News)

On the disadvantages of being a small bank:

"The regulatory system is stacked against smaller than too-big-to-fail banks because they do not have the Treasury-Fed guarantee. This makes them appear riskier to the examiner … which leads to demands for more capital and an increased aversion to take risks."

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On Treasury's reportedly positive returns from the AIG bailout:

"The Treasury Department did not protect the American taxpayer in the AIG mess … This was just another backdoor bailout."

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On Treasury's reportedly positive returns from the AIG bailout:

"Even if the numbers are slightly skewed, looks like the administration was able to make the best of a very bad situation, and regardless of party or persuasion, that's good for America."

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On the FHFA's moves to quietly enact GSE reform

"To have the courage to act when others who should and must do not is a lonely and largely thankless task … I applaud the FHFA for focusing on doing the right thing for our country."

Pictured: FHFA director Edward DeMarco

(Image: Bloomberg News)

On FirstMerit chief Paul Greig's takeover of the $9.7 billion-asset Citizens Republic:

"I would not bet against Paul Greig."

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On whether video screens are an adequate substitute for bank branches:

"Consumers will see video branches as poor substitutes for the real thing. Why would anyone — of any age — travel to a bank location to conduct business with a remote agent?"

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On whether video screens are an adequate substitute for bank branches:

"For me, no! A video screen can never be a branch. For my daughter, yes. That is what video screens are for after all."

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On how to get the underserved to borrow more:

"Jobs, Jobs, Jobs."

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On how to get the underserved to borrow more:

"Charge a rate that is reflective of risk, collateralize as needed, have a robust in-house collection staff, lean on a term loan basis, and look to character as much as the 'score.'"

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On the Justice Department's recent fair-lending settlement:

"Fair Lending inquisitions have become the current torture tool of choice for DOJ and bank regulatory agencies … It reminds me of the T-Shirt that reads: 'Morale will rise immediately or we will beat you until it does.'"

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On blaming affordable housing policies for the crisis:

"It is so disturbing to see Affordable Housing used as the convenient battering ram for this housing crisis."

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On Jose Quinonez's appointment as chair of the CFPB's Consumer Advisory Board:

"His experience in applying technology to lending processes and work on financial disclosure forms for consumer lending will add a lot to the board's discussions."

Pictured: CFPB Director Richard Cordray

(Image: Bloomberg News)